Diamond District Office Building Trades for $101M
After 40-plus years of ownership, Severen Realty Partners has sold the 78,564 rental-square-foot office building located in Manhattan’s Diamond District at 576 Fifth Avenue. The buyer, unidentified Delaware registered company SJD, LLC, paid $101 million, or roughly $1,286 per square foot for the 12-story asset that includes 6,247 square feet of retail space and 18,263 square feet of unused air rights available for commercial use.